Consumers often use mobile channels and applications when performing electronic transactions related to their accounts, such as financial accounts. Typical mobile applications on a device, such as a smart phone or tablet, limit the number, type, or value of transactions. Although mobile applications exist, certain transactions still require human intervention. For example, high dollar cash withdrawals, PIN resets, permanent debit card limit increases, and high dollar wires cannot be performed on mobile applications and must be conducted in person with a representative of a financial account provider. Requiring that certain transactions be conducted in person creates an inconvenience for the customer, who would prefer to conduct these transactions without having to travel to conduct transactions in person.
Current authentication mechanisms vary by channel (mobile, online, in person), requiring the customer to remember his or her credentials for each distinct channel. For example, a customer may be required to remember a username and password, social security number, account number, and ATM PIN number, depending on the channel they use to conduct financial transactions.
Further, some typical authentication procedures are cumbersome and inconvenient for customers. Typically, when a customer authenticates themselves to a financial services provider, be it a digital channel or physical channel, they are required to answer several personal authentication questions. Often the answers to these questions are difficult for the customer to remember and take time to answer.